Hensarling Blasts Dodd-Frank, CFPB

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Byline: Victoria Finkle

WASHINGTON a Rep. Jeb Hensarling, one of the top candidates to assume control of the House Financial Services Committee next year, sharply criticized the Dodd-Frank Act, saying it had severely damaged financial institutions.

Speaking to the National Association of Federal Credit Unions' annual Congressional caucus, Hensarling also blasted the creation of the Consumer Financial Protection Bureau, arguing it has too much unchecked authority.

"I do believe that, regrettably, you have been victimized by a legislative drive-by shooting known as Dodd-Frank," Hensarling said, to industry applause.

The Texas Republican critiqued …